Jute Bags

India's jute exports exceed its imports, with key buyers including the U.S. (23 per cent), France (9 per cent), and the Netherlands (6 per cent) in FY24

Indian jute mills will earn an 8.19-per cent "return on capital" for supplying jute bags for foodgrain packaging under the newly approved pricing framework by the Ministry of Textiles, a senior official said. This implies that mills will earn the predetermined percentage of profit on the capital invested, regardless of market fluctuations of input costs, he said. According to the Indian Jute Mills Association, the new pricing formula will result in only a 4-5 per cent increase in the price of gunny sack supplies. In contrast, the Office of the Jute Commissioner estimates the pricing benefit to be between 6 per cent and 8 per cent, considering various other modifications made in the new pricing policy following the Tariff Commission recommendations. The new pricing formula will be applied retrospectively from September 2016. "The total benefit impact from the current price revision in sacking bags to mills is estimated to be anywhere between 6-8 per cent, taking into account all ..

Union minister Giriraj Singh on Thursday said his goal is to increase the price of finished jute bags from Rs 1,15,000 per tonne to Rs 2 lakh in the near future, driven by value addition through innovations and modernisation efforts. Speaking to reporters here, the Union minister of textiles said, "This is possible with close coordination between all stakeholders, including the government, mills, and farmers." He also informed that the Centre had approved a new pricing formula for jute bags meant for government procurement for foodgrains packaging. Singh said, "the sale of jute products is expected to cross Rs 14,000 crore this year," demonstrating the growth and potential of the industry. The growth of the golden fibre, he said, "will benefit around 4 lakh jute mill workers and 40 lakh farmer families engaged in its cultivation, primarily in West Bengal." During his visit to ICAR-CRIJAF, Barrackpore, the minister met industry representatives to review the sector and discussed "va

The request for relaxation has been made due to the increased cost associated with the use of jute bags, as well as the operational challenges they present

A robust export market for shopping bags has emerged, but whether it can help the ailing jute industry reduce its dependence on heavily regulated government purchases is an open question

Raw jute prices going haywire in the ongoing 2020-21 season may put an additional burden of Rs 2000 crore on the govt exchequer for procuring environment-friendly jute bags for food grain packaging

Total outstanding pegged at Rs 250 cr; a section of trade unions threatens hunger strike if wages are not cleared

The West Bengal govt's permission to operate with 15% workforce will barely allow them to meet 15-20% of the overall demand for bags worth about Rs 1,500 cr

These bags have an aluminium foil lamination so that the laddoos retain freshness and aroma and remain free from moisture and bacteria

In an industry known more for industrial violence and lockouts, the excitement is palpable at the surge in demand, after decades of stagnation, whether from the government or from global retailers

The jute industry struggled to meet its supply commitments for packing food grains in June and July

The Union textiles ministry is learnt to have rejected a suggestion by the Jute Commissioner to lower use of jute bags in 2017-18.The Jute Commissioner had recommended reducing use of jute bags for food grains packing by five per cent- from 90 per cent now to 85 per cent for this financial year. "In the ministry's opinion, lowering the use of jute bags will lead to a crisis situation within the industry and cause an abrupt fall in raw jute prices. It is because the availability of raw jute is more than the previous year", said a source close to the development.In the recent past, this is the first time when higher authorities in the textiles ministry have turned down suggestions made by its lower office. In May this year, the Jute Commissioner in his seven-point suggestion before the standing advisory committee had suggested a phased lowering of jute bags to 50 per cent by 2023-24. The ministry, however, differed with the Jute Commissioner and stated that in view of raw jute ...

Data shows that between May 23 and June 30, orders for 399,970 bales of jute bags were placed